HSBC to issue $1.5 billion of contingent convertible bonds

HSBC, Europe’s largest bank, said on Friday it plans to issue $1.5 billion of perpetual subordinated contingent convertible securities to strengthen its capital base and for general corporate purposes. The securities carry a 7.625% coupon and will be issued on November 13, the company said. The securities would convert automatically into shares if the bank’s common equity Tier 1 ratio, a key…

First reported by Business Recorder 1 hr ago1 source

Read at Business Recorder

Full coverage

Every report we found on this story, oldest first. Each links to the original publisher.

Business Recorder06:381 hr ago
HSBC to issue $1.5 billion of contingent convertible bonds (opens Business Recorder in a new tab)
HSBC, Europe’s largest bank, said on Friday it plans to issue $1.5 billion of perpetual subordinated contingent convertible securities to strengthen its capital base and for general corporate purposes. The securities carry a 7.625% coupon and will be issued…

Something wrong with how we've grouped or summarised this story? Report a problem